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News

Canada’s retaliatory tariffs against US go into effect


08/09/26
News
08/09/26

Canada’s retaliatory tariffs against US go into effect

Calgary, 8 September (Argus) — Canada's retaliatory tariffs against C$27.6bn ($20bn) of US goods went into effect today, as the trade war between the two tightly-linked countries escalates. Canada is imposing as much as a 50pc tariff on nearly 650 US products, including milk, cheese, steel, aluminum, wood and paper products, honey, and perfume. The trade action comes after the US on 22 August imposed new tariffs on Canadian goods after negotiations broke down the day before. "Since a fair deal wasn't on the table, we made the right choice to walk away from a bad one," Canadian prime minister Mark Carney said in a video address to Canadians posted Tuesday. "They wanted us to become even more reliant on them, not less." Carney said an escalating conflict is not constructive, but the tariffs put in place today are necessary to protect Canadian businesses. Canada was among the first targeted by US president Donald Trump's trade actions at the start of his second term, prompting Carney to shore up trade deals elsewhere with the goal of doubling trade with non-US countries within the next 10 years. Canada's merchandise exports to the US fell to a four-month low of C$51bn in July, while a record outflow to other regions, including the EU and China, was registered. Carney on 1 September said Canada is open to resuming trade talks once the US "starts being serious". Five days later, Trump on social media complained about the Canada-US exchange rate, before making another post referring to Carney as "Governor" — a repeated taunt suggesting that Canada become the 51st state. He also renamed the one of the lakes bordering the countries, Lake Ontario, as "Lake America." Trump on Monday took aim at Canadian-based jet manufacturer Bombardier by writing "NO MORE SELLING BOMBARDIER IN THE UNITED STATES!" in a social media post. Bombardier's jets are manufactured in Canada, Mexico, and the US where it does business with 2,800 US companies across 47 states. "The American aerospace industry is a clear winner on trade and exports," Bombardier said in a statement the same day. On a provincial level, Saskatchewan is levying a 50pc tax on US alcohol, also effective on Tuesday. Alberta, now the lone province not acting against US alcohol imports, has said it is under consideration. Some provincial leaders have called on Alberta to restrict energy exports to the US, but Alberta has maintained its preference for diplomacy. By Brett Holmes Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

News

Hormuz traffic rose to 15 vessels Monday: Windward


08/09/26
News
08/09/26

Hormuz traffic rose to 15 vessels Monday: Windward

New York, 8 September (Argus) — Vessel traffic through the strait of Hormuz rose to 15 transits on Monday from 12 the previous day, but still remained well below pre-war levels, data from maritime security Windward shows. Of the 15 vessels that crossed the strait Monday, six were inbound, two using the US-assisted southern lane and four the Iranian controlled northern lane. There were nine outbound ships, with six taking the northern lane, two the southern and one the center, Windward data show. The amount of traffic through the strait of Hormuz remains well below its pre-war level of around 135 vessels per day. US Central Command (Centcom) said in a post on X that as of 7 September its forces have redirected 94 commercial vessels, disabled three and boarded two others as part of efforts to enforce a blockade against Iranian ports. Iran will soon announce a new and broader restricted zone for vessels looking to cross the strait, the head of Iran's Supreme National Security Council, Mohsen Rezaei, said. This new zone will begin from the line of the US Navy blockade in the Gulf of Oman and extend westward to areas within the Mideast Gulf. Ships approaching the area would be warned to stay away or risk being included on Iran's sanction list, according to Rezaei. "There will be consequences, including problems with insurance and future passage," he said. By Delfina Marchese Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

News

US squeezes Cuba's renewable power efforts


08/09/26
News
08/09/26

US squeezes Cuba's renewable power efforts

Kingston, 8 September (Argus) — Cuba's efforts to increase renewable power production and mitigate the impact of tightened US sanctions on its weakened electricity system are being undermined by Washington's threats against shipping companies supplying the equipment, foreign minister Bruno Rodriguez said on Monday. Cuba has been rapidly developing solar power capacity, but further progress is being curbed as "shipping companies that should bring solar panels or batteries for the new photovoltaic parks are being intimidated, threatened and harassed" by Washington, Rodriguez said. Solar parks developed mainly with Chinese equipment deliver about 10pc of Cuba's power, according to the government that has set a target of 24pc by 2030. Cuba lost access to crude imported mainly from Venezuela following the US' 3 January overthrow of Venezuelan president Nicolas Maduro. The US blockade to force political and economic change in Cuba deprived the island of about 100,000 b/d of imports, causing extensive fuel shortages and frequent and long power blackouts as it depends on domestic production of 40,000 b/d. Cuba's power plants delivered 1.16GW on Monday to meet demand of 2.79GW, according to state power utility UNE. "The US threatens shipping companies and prohibits them from transporting even parts and pieces for thermoelectric plants or photovoltaic systems, even those that have been already paid for," Rodriguez said. The US earlier imposed charges against Cuba's state oil company Cupet and its subsidiaries and on the island's oil industry equipment importers. "These designations reflect [US president Donald] Trump's unwavering vision for a free Cuba," US state secretary Marco Rubio said last week in announcing new sanctions. "Cuba's communist regime elites preside over a failed state where ordinary Cubans go hungry." Havana and Washington "have been holding talks and we continue communicating with the US, but there has been no progress in the negotiations due to the lack of political will on the part of the US", Rodriguez said. Cuba received 730,000 bl of crude from Russia in April — the first imports since January — that was processed and exhausted in May, according to state media. "A diagnosis of the Cuban electro-energy system at the end of May reflects that there are around 1.4GW of capacity that does not generate electricity due to a lack of fuel," Rodriguez said. By Canute James Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

News

Global GHG emissions reached fresh high in 2025: Report


08/09/26
News
08/09/26

Global GHG emissions reached fresh high in 2025: Report

London, 8 September (Argus) — Global greenhouse gas (GHG) emissions reached a record high of 55bn t/CO2 equivalent (CO2e) in 2025, up by 0.9pc on the year, data from the EU's independent emissions database for global atmospheric research (Edgar) show. These figures include the land use, land use change and forestry (LULUCF) sector — which can act either as a source of carbon or a carbon sink. Excluding LULUCF, global GHG emissions rose to 54.1bn t/CO2e in 2025, an increase of 0.7pc on the year, Edgar found. The highest-emitting countries in 2025 were China, the US and India, with shares of 29.5pc, 11.1pc and 8.3pc of the global total, respectively, Edgar data show. The EU, Russia and Indonesia were responsible for 5.8pc, 4.8pc and 2.5pc, respectively, of global GHG emissions in 2025. These six economies account for 50.1pc of global population, 62pc of global GHG emissions and 63pc of global fossil fuel consumption, Edgar said. Of the top six emitters, the US and Indonesia recorded the most substantial increases in emissions in 2024-5 — a rise of 2.2pc or 131.5mn t/CO2e for the US and one of 1.2pc or 16.1mn t/CO2e for Indonesia. "China and India maintained or reduced their emissions levels for the first time", in 2025, Edgar said. China's GHG emissions rose by just 0.1pc or 9.6mn t/CO2e from 2024 levels, while India's emissions fell by 0.2pc in the same timeframe, Edgar said. The EU and Russia also recorded "small decreases" on the year in GHG emissions in 2025, or 0.2pc and 0.1pc, respectively, Edgar data show. Elsewhere, Japan's emissions — 2pc of the global total — dropped by 1.4pc on the year in 2025 and Australia's by 1.3pc in the same timeframe. UN Cop 31 summit host Turkey's emissions — 1.1pc of the global total — rose by 4.2pc on the year in 2025, Edgar found. Global GHG emissions increased across all sectors in 2025, apart from the power sector, which recorded a drop in emissions of 0.3pc on the year — 51mn t/CO2e — Edgar found. But power remains the "dominant" single sector, responsible for nearly 30pc of global emissions, the report added. CO2, mostly from fossil fuel combustion, "remained the dominant component of global GHG emissions" in 2025, at 73.8pc of the total, Edgar said. Methane was responsible for 17.6pc, nitrogen oxides for 5.3pc and fluorinated gases — for uses such as refrigeration and air conditioning — for 3.3pc, Edgar said. The LULUCF sector globally was a net source of carbon in 2025 of around 900mn t/CO2e — equivalent to 1.6pc of global GHG emissions that year — in part owed to wildfires, Edgar said. Wildfires generated 2.2bn t/CO2e in 2025, which was below the long-term average of 2.9bn t/CO2e since 1990. But "regional spikes were observed", Edgar said. This includes in the EU, where wildfire emissions rose by 40pc from 2024-5. Globally, deforestation in 2025 released 3.7bn t/CO2e, "offsetting more than twice the amount removed by the LULUCF sink globally", Edgar found. Around 106 countries covering approximately 72pc of GHGs have net zero emissions targets in place, IEA data show. Net zero emissions — when GHG emissions are balanced by removals from the atmosphere — would halt further global temperature increases. The Paris climate agreement seeks to curb the rise in temperature to below 2°C above pre-industrial levels, and pursues a 1.5°C limit. By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.